Loading…
A bill to establish the Paycheck Protection Program Second Draw Loan, and for other purposes.
Legislative Progress
Introduced
September 30, 2020
Latest Action
October 1, 2020
Primary Sponsor
Susan M. CollinsRepublican(ME)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
86pct
1d open
vs 5,086 other S bills in the 116th — cohort avg 30d
Continuing the Paycheck Protection Program Act This bill establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19. Specifically, the Small Business Administration is authorized to provide second draw loans of up to $2 million under the Paycheck Protection Program. A recipient shall be eligible for forgiveness of a second draw loan in the same manner as an initial paycheck protection loan. Further the bill modifies the Paycheck Protection Program by, among other things, (1) expanding forgivable expenses, (2) allowing borrowers to select an eight-week period to use their paycheck protection loan, (3) simplifying the forgiveness application for smaller loans, (4) expanding eligibility to certain chambers of commerce and destination marketing organizations, and (5) establishing a specific loan calculation for farmers and ranchers.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (6)
2020 · fourth_quarter · Taxation/Internal Revenue Code
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 562.
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Coronavirus Recovery Relief: -Amend the Tax Code to restore the ability of businesses to carryback any net operating losses against previous year tax payments; suspend the application of the Section 163(j) limitation on interest expense deductions for tax year 2020 to avoid penalizing businesses for borrowing during this crisis; and suspend the Section 461(l) loss limitation on pass-through businesses to allow businesses to full deduct any losses they incur this year. - Expand eligibility for the proposed PPP second draw to a greater share of struggling small businesses by lowering the gross revenue reduction requirement from 50 percent. - Continuing the Paycheck Protection Program Act (S. 4773) - establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19. - Main Street Tax Certainty Act (H.R. 216/S. 1149): Support bill to make permanent a 20 percent deduction for pass-through income in the Tax Cuts and Jobs Act which expires in 2025. - Death Tax Repeal Act of 2019 (H.R. 218/S. 215)
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade Representative (USTR)
2020 · fourth_quarter · Small Business
Paycheck Protection Program SBA 7(a) lending program S. 2383, Small Business Administration Franchise Loan Transparency Act of 2019 H.R.7066, Reopening America by Supporting Workers and Businesses Act of 2020 H.R. 6907 / S.3742, RELIEF for Main Street Act H.R. 7197 / S. 4012, RESTAURANTS Act S. 4117, Paycheck Protection Program Small Business Forgiveness Act S. 3814, Reviving the Economy Sustainably Towards a Recovery in Twenty-twenty (RESTART) Act Legislative Proposal for franchise investment Small Business Debt Relief Extension Act H.R.8265 - to amend the Small Business Act and the CARES Act S. 178, Delivering Immediate Relief to Americas Families, Schools and Small Businesses Act H.R. 7528, The Get America Back to Work Act of 2020 S. 4676 Small Business Debt Relief Extension Act H.R.8376 Small Business Debt Relief Extension Act S.4773 Continuing Paycheck Protection Program Act S.4817 Small Business Access to Recovery Capital Act H.R.7894, the Paycheck Protection Program Small Business Enhancement Act H.R. 133, Consolidated Appropriations Act, 2021
Client expense: $230,000 · Firm income: Not reported
Government targets: Federal Accounting Standards Advisory Board (FASAB), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), SENATE, Small Business Administration (SBA), Treasury, Dept of, White House Office
2020 · fourth_quarter · Disaster Planning/Emergencies
Consolidated Appropriations Act, 2021 (H.R. 133): To promote streamlining PPP loan process without reducing anti-corruption, anti-fraud, and anti-discrimination measures Paycheck Protection Program Extension Act (S. 3833) (Rubio bill): To promote streamlining PPP loan process without reducing anti-corruption measures Paycheck Protection Small Business Forgiveness Act (S. 4177) (Cramer bill): To promote streamlining PPP loan process without reducing anti-corruption measures Delivering Immediate Relief to Americas Families, Schools and Small Business Act (S. 178) (McConnell bill): To promote streamlining PPP loan process without reducing anti-corruption measures Continuing the Paycheck Protection Program Act (S. 4773) (Collins bill): To promote streamlining PPP loan process without reducing anti-corruption measures
Client expense: $17,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, State, Dept of (DOS), Treasury, Dept of
2020 · fourth_quarter · Small Business
H.R. 748 / S. 3548, the Coronavirus Aid, Relief, and Economic Security (CARES) Act; H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act; H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act; H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020; H.R. 2513, the Corporate Transparency Act of 2019; S. 4117/H.R. 7777, the Paycheck Protection Small Business Forgiveness Act; H.R. 8265, To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes; S. 4321, Continuing Small Business Recovery and Paycheck Protection Program Act; S. 4773, Continuing the Paycheck Protection Program Act; S. 4775, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act; H.R. 133, Consolidated Appropriations Act, 2021
Client expense: $330,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Defense, Dept of (DOD), Drug Enforcement Administration (DEA), Food & Drug Administration (FDA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Medicare Payment Advisory Commission (MedPAC), Office of Management & Budget (OMB), Office of Natl Drug Control Policy (NDCP), SENATE, Small Business Administration (SBA), Substance Abuse & Mental Health Services Administration (SAMHSA), White House Office
2020 · fourth_quarter · Small Business
S. 4773 - Continuing the Paycheck Protection Act. ISSUE: treatment of group insurance premiums S.Amdt.2652 - Issue: Corona-virus relief for small business; liability protections; state and local funding
Client expense: $460,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2020 · third_quarter · Taxation/Internal Revenue Code
Coronavirus Recovery Relief: - Suspend the filing of business returns and the payment of all business taxes to the federal government for the duration of the pandemic. These suspended taxes should include taxes owed for the 2019 Tax Year, estimated payments for 2020, and all payroll tax obligations. - Amend the Tax Code to restore the ability of businesses to carryback any net operating losses against previous year tax payments; suspend the application of the Section 163(j) limitation on interest expense deductions for tax year 2020 to avoid penalizing businesses for borrowing during this crisis; and suspend the Section 461(l) loss limitation on pass-through businesses to allow businesses to full deduct any losses they incur this year. - Technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP). - Expand eligibility for the proposed PPP second draw to a greater share of struggling small businesses by lowering the gross revenue reduction requirement from 50 percent. - Continuing the Paycheck Protection Program Act (S. 4773) - establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19. Main Street Tax Certainty Act (H.R. 216/S. 1149): Support bill to make permanent a 20 percent deduction for pass-through income in the Tax Cuts and Jobs Act which expires in 2025. Death Tax Repeal Act of 2019 (H.R. 218/S. 215)
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade Representative (USTR)
2020 · third_quarter · Small Business
S. 4773 - Continuing the Paycheck Protection Act. ISSUE: treatment of group insurance premiums S.Amdt.2652 - Issue: Corona-virus relief for small business; liability protections; state and local funding
Client expense: $460,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2020 · third_quarter · Food Industry (safety, labeling, etc.)
COVID-19 Response, CARES Act Implementation, Payroll Protection Program Supplier Costs, Health, Economic Assistance, Liability Protection, and Schools Act, S. 4773- Continuing the Paycheck Protection Program Act, Food Perishability and Accounts Receivable associated with the impact of COVID-19
Client expense: Not reported · Firm income: $50,000
2020 · third_quarter · Disaster Planning/Emergencies
Paycheck Protection Small Business Forgiveness Act (S. 4177) (Cramer bill): To promote streamlining PPP loan process without reducing anti-corruption measures Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act (S. 3814) (Bennet-Young bill): To promote streamlining PPP loan process without reducing anti-corruption measures Delivering Immediate Relief to Americas Families, Schools and Small Business Act (S. 178) (McConnell bill): To promote streamlining PPP loan process without reducing anti-corruption measures Continuing the Paycheck Protection Program Act (S. 4773) (Collins bill): To promote streamlining PPP loan process without reducing anti-corruption measures Health, Economic Assistance, Liability Protection and Schools (HEALS) Act (McConnell Bill: To promote streamlining PPP loan process without reducing anti-corruption measure International Monetary Fund loan requirements: To promote anti-corruption measures in IMF lending for pandemic response
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of
2020 · third_quarter · Small Business
H.R. 748 / S. 3548, the Coronavirus Aid, Relief, and Economic Security (CARES) Act; H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act; H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act; H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020; H.R. 2513, the Corporate Transparency Act of 2019; S. 4117/H.R. 7777, the Paycheck Protection Small Business Forgiveness Act; H.R. 8265, To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes; S. 4321, Continuing Small Business Recovery and Paycheck Protection Program Act; S. 4773, Continuing the Paycheck Protection Program Act; S. 4775, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act
Client expense: $330,000 · Firm income: Not reported
| HR 8087 |
116th |
| Related bill |
| HR 7175 | 116th | Related bill |
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
Government targets: Centers For Medicare and Medicaid Services (CMS), Defense, Dept of (DOD), Drug Enforcement Administration (DEA), Food & Drug Administration (FDA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Medicare Payment Advisory Commission (MedPAC), Office of Management & Budget (OMB), Office of Natl Drug Control Policy (NDCP), SENATE, Small Business Administration (SBA), Substance Abuse & Mental Health Services Administration (SAMHSA), White House Office